Healthcare of Ontario Pension Plan Trust Fund Sells 8,784 Shares of Insmed, Inc. $INSM

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,529 shares of the biopharmaceutical company’s stock after selling 8,784 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Insmed were worth $9,244,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CoreCap Advisors LLC bought a new position in Insmed during the fourth quarter valued at $27,000. Reflection Asset Management bought a new stake in shares of Insmed in the fourth quarter valued at $30,000. GraniteShares Advisors LLC bought a new stake in shares of Insmed in the fourth quarter valued at $30,000. CIBC Private Wealth Group LLC lifted its position in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 53 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in shares of Insmed during the 4th quarter valued at $32,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on INSM shares. Barclays increased their price target on Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Raymond James Financial assumed coverage on shares of Insmed in a report on Friday, April 10th. They set an “outperform” rating and a $200.00 price objective on the stock. Truist Financial cut their target price on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Roth Capital reiterated a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $209.35.

Insmed Trading Down 0.6%

Shares of INSM stock opened at $104.13 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The company has a market capitalization of $22.57 billion, a PE ratio of -18.11 and a beta of 0.78. The business’s fifty day moving average is $105.09 and its 200 day moving average is $132.25.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period in the prior year, the company earned ($1.42) EPS. The company’s quarterly revenue was up 229.7% compared to the same quarter last year. On average, equities research analysts anticipate that Insmed, Inc. will post -2.43 EPS for the current fiscal year.

Insider Activity at Insmed

In related news, insider Michael Alexander Smith sold 6,149 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $108.47, for a total value of $666,982.03. Following the sale, the insider directly owned 41,613 shares of the company’s stock, valued at $4,513,762.11. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the transaction, the chief financial officer directly owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 54,590 shares of company stock valued at $5,793,738 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.